Did you know we closed ANOTHER 200% winner in “Vol Edge?” There’s no excuse to not be in this elite trading circle. I have been telling people that the VIX light has been moving…and so have we! Moving in the gravy train baby! Come aboard…
“Always Be Closing…”
ALWAYS BE CLOSING!!
This is the most famous line from the Movie Glengarry Glen Ross.
But, to a trader these words take a different meaning.
I went back and forth with a client that bought options on a NIO.
He was lamenting the fact that he sold too early.
I asked him: did you make money?
His answer was a quick: yes, but not as much as could have?
I then asked him:
‘Well what if the stock went to 20 after you sold? Would you feel bad then?”
“No” he replied
I told him, “then don’t complain.”
You see, the key to this business is not squeezing the last dollar out of every trade…
…the key is to make the easy dollars as quickly as you can and move on.
When you have an easy winner, close it and move on…don’t squeeze.
Squeezers are the type that will hold out on a position to make an extra dollar or two…
Meanwhile they are SO tied up concentrating on their current trade that they miss the next easy trade. (READ THAT AGAIN)
They are also the type that hold on AFTER the trade starts to turn.
“I was up 1000…now I am only up 800.00…I better hold on.”
Next thing you know THAT trader is begging to break even.
When I was on the floor, I was both the ABC trader AND the trader that held on WAY too long.
In one case, I closed a bunch of short options that were worth .05 to .10.
If I had NOT closed them, the short options would have gone out worth 20.00!!
I was glad I practiced my ABC’s.
In another trade I failed to close a short call position, and the stock absolutely BLEW higher…
…COST me a TON of dough (even good traders get lazy sometimes).
When I practice my ABC’s I will make money…lots of money.
When I squeeze for more juice, I make less.
So ask yourself:
“do you know your ABC’s or are you a squeezer?”
If you are, go watch the Glengarry Glen Ross clip and take Alec Baldwin’s advice to heart because if you are not a closer….
One morning you will be too sick to your stomach to drink coffee…
Then you might tell yourself: “Coffee’s for closers.”
Your Only Option,
PS – I’ve been closing a boat load of winners lately…Across all my services. If you arent on this roll with us…well…you SHOULD BE! Get in the game folks. Join me. Its fun. Its easy. And not only do you earn something, you learn something too. Join me in “Little John.” I opened up two slots and one is left already. Grab last spot here!
- DISCLAIMER: FOR EDUCATIONAL AND INFORMATION PURPOSES ONLY; NOT INVESTMENT ADVICE. The materials presented from Option Pit LLC are for your informational and educational purposes only. Neither Option Pit LLC nor its employees nor its affiliates offer investment, legal or tax advice of any kind, and the analysis displayed with various tools does not constitute investment, legal or tax advice and should not be interpreted as such. Using the data and analysis contained in the materials for reasons other than the informational and educational purposes intended is at the user’s own risk.
- Option Pit LLC is not responsible for any losses that may occur from transactions effected based upon information or analysis contained in the presented materials. Option Pit LLC IS NOT AN INVESTMENT ADVISOR OR REGISTERED BROKER. Specific trading ideas or strategies discussed in the presentations or materials are entirely illustrative and do not constitute a solicitation of a transaction (or transactions) or a recommendation to execute a particular transaction or implement a particular trading strategy.
- To the extent that you make use of the concepts with the presentation material, you are solely responsible for the applicable trading or investment decision. Use caution when entering any option transaction and it is recommended you consult with your financial advisor for investment, legal or tax advice relating to options transactions.